After Gaining 90% In 1 Year Small Cap Stock To Consider Stock Split

Jay Bharat Maruti Ltd is a small cap Consumer Discretionary firm which recorded a market cap of Rs 1,294.89 Cr during Friday's closing session. The company is a top producer of key automobile components, buses, and electric vehicles.

The company has said in a stock exchange filing that "A meeting of the Board of Directors of the Company scheduled to be held on Tuesday, August 08, 2023, inter-alia, to consider and approve proposal for sub-division/split of existing Equity Shares of the Company having face value of Rs. 5/- each in such manner as may be determined by the Board of Directors subject to such regulatory/ statutory approval as may be required including the approval of shareholders of the Company."

During its meeting, the company will also announce its unaudited financial results (Standalone and Consolidated) for the 1st quarter ended June 30, 2023.

Its net income in Q4FY23 was Rs 673.76 Cr, a 3.01% YoY drop from Rs 694.70 Cr in Q4FY22. Its net profit climbed by 2.39% YoY to Rs 14.33 Cr in the March 2023 quarter from Rs 14.00 Cr in the March 2022 quarter. The company has recorded an EPS of Rs.3.31 for the quarter ended March 31, 2023 as compared to Rs.3.23 for the quarter ended March 31, 2022. It generated a net income of Rs 2345.47 Cr for the fiscal year that ended in FY2023, up from Rs 2078.81 Cr in fiscal year (FY)2022 by 12.83% YoY. Its net profit climbed 34.68% YoY from Rs 28.14 Cr in 12MFY22 to Rs 37.90 Cr in 12MFY23. For the fiscal year that ended on March 31, 2023, the firm recorded earnings per share of Rs. 8.75, up from Rs. 6.50 in the prior fiscal year.

During the pre-opening session on Monday, the shares of Jay Bharat Maruti were seen at Rs 307.25 apiece level. The stock made a 52-week-high of Rs 344.25 on (04/07/2023) and a 52-week-low of Rs 125.00 on (16/03/2023). In the last 1 year the stock has gained 91.18% and on a YTD basis, the scrip has rallied 84.74% so far in 2023. During Q1FY24, the company recorded promoter shareholding of 59.35%, FIIs stake of 3.55%, DIIs stake of 0.03% and public stake of 37.07%.